News Investigators/ The Minister of State Petroleum (Oil), Sen. Heinekein Lokpobiri on Saturday paid an unscheduled visit to some petrol stations in Yenagoa, the Bayelsa capital.
The News Agency of Nigeria (NAN) reports that the random visist was to enable him to ascertain the status of petrol supply following the Federal Government’s deregulation of the downstream sector.
Lokpobiri, who visited the Rainoil filling station at Edepie, was accompanied by officials of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA).
The minister also visited an NNPC retail outlet also at Edepie, Rano Oil at Opolo, and NNPC mega filling station on the Sani Abacha expressway.
At the filling stations he visited the minister requested the pump attendants to dispense fuel to enable him ascertain that the fuel being sold to the public was commensurate with the displayed price.
Lokpobiri said his findings indicated that the full deregulation of petrol prices following the removal of subsidy was yielding results with product availability during the festive season.
He noted that this was the second Christmas under the President Bola Tinubu’s administration that fuel was available during the festive season.
“You can recall that the norm has been that during festive season, when there is more demand, there is always product scarcity leading to price hikes
“But last year there was product availability and this year also there is product availability and the prices are stabilising,” Lokpobiri said.
According to him, the emphasis of government in the deregulation era is product availability at precise volumes.
“What we have seen in the past is that somebody is saying that he is selling 100 litres and what you are buying is 50 litres.
“That is why without any notice, I am going from one filling station to another to ascertain the exact situation first hand with availability, prices and measurement of volume.
“You can see the price disparity; some filling stations are selling at ₦1,050, NNPC Mega station is selling at ₦999, others are selling for ₦1,020, that is the real essence of deregulation, “ Lokpobiri said.
He said it has always been the practice that in a deregulated scenario, the price will find its level, while the regulators ensure that products are available for the benefits of Nigerian.
“Now we have gone round and seen that some filling stations are dispensing within the threshold, only one or two are above the threshold.
“And we have told them that if you are dispensing 10 litres but you are actually dispensing 10.35 litres, it means you have exceeded the limit.
“I have told them to adjust their pumps, I am going to be back in a few days to ensure they have adjusted their pumps.
“The most important thing is that products are available, the price is competitive, ranging from ₦1,050 to ₦1,020 to ₦999, and this is the very essence of the policy of full deregulation of the sector,” he said.
Lokpobiri urged Nigerians to be vigilant to check sharp practices when they want to buy products, and also raise the alarm and report any erring fuel station to regulators.
“Please look at the metres and price; if the capacity of your car tank is 100 litres and anybody claims to have dispensed 110 litres, raise the alarm.
“All of us must work together, all hands must be on deck to ensure that Nigerians get the full value and gains of deregulation,” he said.
NAN
